Funding round
Spatial Series A
Spatial, which works in metaverse platform development in New York, raised $14M in a Series A round announced on 30 Jan 2020, led by White Star Capital, Inovia and Kakao Ventures. 18 firms took part, with 7 individual investors. It is Spatial's second venture round on record; the one before was a Seed in Oct 2018.
$14M
Amount raised
Not disclosed
Post-money valuation
18
Investors
3 leads
Valuation
What this round says about the price
Spatial did not disclose a valuation in this round. It came 15 months after Spatial's Seed. It is 30% of the $47M Spatial has raised in the venture rounds on record. Spatial raised again 23 months later: a Series B round of $25M in Dec 2021.
Investors
Who put money in
White Star Capital, Inovia and Kakao Ventures led the round with 15 other firms.
Lead investors
- backs 61 venture-backed companies new investor
- Inovia backs 120 venture-backed companies new investor
- backs 27 venture-backed companies new investor
Also in the round
- Baidu new investor
- backs 46 venture-backed companies new investor
- backs 153 venture-backed companies new investor
- backs 16 venture-backed companies new investor
- backs 138 venture-backed companies new investor
- Mike Krieger new investor
- backs 8 venture-backed companies new investor
- backs 28 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies new investor
- Lakestar backs 95 venture-backed companies new investor
- backs 96 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- todd and rahul's angel fund new investor
Individual investors: Mike Krieger, mark pincus, david krane, rajan anandan, koen bok, simon willnauer and andy hertzfeld.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,035 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $9.0M, and this round was 1.6 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Jan 2020 | $40M | not disclosed | Horizons Ventures |
| Tech Companies | 21 Jan 2020 | $30M | not disclosed | Five Elms Capital |
| Tech Companies | 27 Jan 2020 | $23M | not disclosed | Radian Capital |
| Tech Companies | 30 Jan 2020 | $22M | not disclosed | Oxx and Kennet |
| Tech Companies | 22 Jan 2020 | $20M | not disclosed | SignalFire |
| Tech Companies | 23 Jan 2020 | $20M | not disclosed | Insight Partners |
| Tech Companies | 28 Jan 2020 | $18M | not disclosed | Coatue |
| Tech Companies | 1 Jan 2020 | $17M | not disclosed | Sequoia Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Spatial raise in its Series A round?
Spatial raised $14M in its Series A round, announced in Jan 2020.
Who led Spatial's Series A round?
White Star Capital, Inovia and Kakao Ventures led it, with Baidu, Expa, Lerer Hippeau, Leaders Fund and Samsung Next and 10 more.
What was Spatial's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,035 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $9.0M, and this round was 1.6 times the median.
Did Spatial raise again after this round?
Yes: a Series B round in Dec 2021 of $25M.